Warner Music to Cut
Prices of Older Albums

a Wall Street Journal Staff Reporter

Updated May 10, 2004 12:01 a.m. ET

LOS ANGELES -- Warner Music Group, the company behind Madonna, Missy Elliott and Rod Stewart, is reducing the suggested retail price on more than 1,700 older albums beginning this week in a bid to spur CD sales.

The initiative, which was outlined in a letter sent by the recording company to retailers last week, lowers the suggested retail price on 1,776 titles that have been in stores for at least 18 months.